Dubai developer DAMAC buys Italian fashion brand Roberto Cavalli

Dubai developer DAMAC buys Italian fashion brand Roberto Cavalli

Vision Investment Co.LCC, the investment company headed by Hussain Sajwani, the founder of Damac Properties Group has signed a binding agreement to obtain 100% of Roberto Cavalli SpA. for an undisclosed amount. The Dubai developer was expected to purchase the troubled Italian fashion group Roberto Cavalli in early July.

Two other binding offers for the group were submitted by Italy’s Diesel-owner OTB and U.S. brand management company Bluestar Alliance.

Cavalli held a board meeting to examine the bids, though the final decision rests with the bankruptcy court which granted creditor protection to the brand in April.

In October of 2018, Damac Properties announced a global hotel hospitality partnership with fashion house Roberto Cavalli Group. Under the deal, Roberto Cavalli will develop interiors for at least five luxury Damac hotels under the ‘AYKON Hotels with interior design by Roberto Cavalli’ brand. Situated within Al Sufooh in Dubai Marina, the first AYKON 220-room tower and five star hotel will offer skyline Dubai views. Construction will begin in 2019 and is scheduled for completion by 2023.  In 2017, the two joined forces to launch the world’s first villas featuring Just Cavalli interiors.

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Rita Ghantous

Rita Ghantous is a hospitality aficionado and a passionate writer with over 9 years’ experience in journalism and 5 years experience in the hospitality sector. Her passion for the performance arts and writing, started early. At 10 years old she was praised for her solo performance of the Beatles song “All My Love” accompanied by a guitarist, and was approached by a French talent scout during her school play. However, her love for writing was stronger. Fresh out of school, she became a freelance journalist for Noun Magazine and was awarded the Silver Award Cup for Outstanding Poetry, by The International Library of Poetry (Washington DC). She studied Business Management and earned a Masters degree from Saint Joseph University (USJ), her thesis was published in the Proche-Orient, Études en Management book. She then pursued a career in the hospitality industry but didn’t give up writing, that is why she launched the Four Points by Sheraton Le Verdun Newsletter. Her love for the industry and journalism led her to Hospitality Services - the organizers of the HORECA trade show in Lebanon, Saudi Arabia, Kuwait and Jordan, as well as Salon Du Chocolat, Beirut Cooking Festival, Whisky Live and other regional shows. She is currently the Publications Executive of Hospitality News Middle East, Taste & Flavors and Lebanon Traveler. It is with ultimate devotion for her magazines that she demonstrates her hospitality savoir-faire.

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